Frank26 and KTFA Members Friday Evening 9-6-19
Frank26: KTFA FAMILY I .................. WANT ...................... TO TALK.
THAT WHICH WAS IN THE BACK OF THE RIGHT SIDE OF MY HEAD .............. REMEMBER?
C U ON YOUR YOUTUBE IN .45
MY SINCERE ALOHA MY KONA ................. SWEET ALOHA \M/
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Frank26: THE PRIVATE BANKS AROUND THE WORLD
September 6, 2019
Don961: “Securities” honor the first companies by submitting their final accounts
Friday 06 September 2019
Baghdad / Hussein Thaghab
The JSC organized its annual workshop, under the patronage of the Prime Minister, to honor the joint stock companies in submitting their final accounts for 2018 under the slogan 'Early Disclosure Encourages Investment'.
The workshop was inaugurated by the Chairman of the Securities Commission, Dr. Alaa Al-Saadi. In all fields, including the economic field of course, which will reflect positively on the economic development of society and people. "
He added that this sponsorship contributes to encourage sound financial practices, including encouraging companies to disclose early on their financial reports, which lead to establishing a sound basis in the dissemination of information in a timely manner in order for investors to make investment decisions based on that information and properly to strengthen financial markets. And raise their efficiency. "
Al-Saadi continued: "Our body worked during the past year on the task of one team on several key axes, which will promote the culture of indirect investment in the securities sector, the most important of which is the activation of Iraq's membership in the Federation of Arab Securities Commissions after it was frozen for several years."
He pointed to "the completion of Iraq's accession to the Organization of International Securities Commissions IOSCO as an associate member, and we are currently working to convert this capacity to the status of a member, as well as the signing of memorandums of understanding with the corresponding bodies in the Hashemite Kingdom of Jordan and the Republic of Iran Islamic. "
"Further memoranda will be signed in the near future with the corresponding bodies in Qatar and Saudi Arabia, as well as the completion of the draft law of the Securities Commission, in cooperation with the State Council, after all conflicts with other laws have been removed," he said.
The representative of Prime Minister Abdul Karim al-Faisal said: "The Iraqi Stock Exchange is the most important in the economy, as it reflects the performance indicators within the local labor market and indicators of prosperity and recession, and has a major role in building capital contribute to development."
He pointed out that "the market contributes to attracting individuals to save in stocks, as it seeks to build a safe investment environment that helps in competition through the availability of information on joint-stock companies," pointing out that "the market is a wider window for indirect investment, and whenever the mechanisms work sound Investors are going to the market, and transparent performance gives the market the freedom to buy stocks. "
The Executive Director of the Iraqi Stock Exchange Taha Ahmed Abdul Salam confirmed that "the market is interested in joint stock companies, as they represent trading tools," explaining that "this event is organized annually to introduce companies that have been disclosed early," pointing out that "early disclosure contributes to the audit of data and preserves the rights Shareholders. "
The director of Trans Bank of Iraq, Bashar Shaker, one of the companies that disclosed early on, said: "This trend can be described as positive as it promotes competition between mixed sector companies, which in turn leads to the promotion of investment in shares of companies that disclose their final accounts and build confidence between the two poles of the process. Competitors and investor in stocks. "
He pointed out that "this step enhances the capabilities of the Iraqi stock market, and here prefer to follow all the companies to contribute towards such a direction to move the local market to a better stage."
Abbas Jameel, Chairman of the Board of Directors of Khazir Road, pointed out that "the Authority has worked well when it took the initiative to honor the first ten companies that disclosed their final statements." It leads to enhancing confidence between the citizen and the company and adding real value to the company's shares within the trading market and this enhances its financial position.
MilitiaMan: This positive report (above) shows they have had moving the ISX to a new level on their mind for quite sometime now. Looks so as to be, as far back as 2018 for companies starting to disclose their books in order to be transparent.
This is clearly setting the stage for a much grander staging for the ISX. The line up of countries taking notice is noted too. We have been told to watch the NASDAQ recently, imo. This seems to fit that we may see something in short order! imo ~ MM
They at this stage in time are at an Associate Member Level with IOSCO, just think when they RI what sort of light that will shine on the ascension to a full member!
The NASDAQ has rules and standards that will need to be met. If and when that happens and apparently it is the goal for that to happen, as the ISX was show cased back in July in New York (I believe) and then again more recently in Iraq, suggesting the above has been setting the stage to roll out companies that were early to the party for trading soon internationally!
So, this is well timed today, and is nothing but a positive sign of what is to come. imo ~ MM
Then now we see below taken from the Final Article Thread, we can see who calculated things for the future and when." The AMF value is to be taken seriously and it may very well get a nice leg up the ladder when Iraq takes of her training wheels!!
We in the past were able to define value by loans from Tunisia / AMF... They were close to Iraq's original high Glory Day's ~ Maybe WS can give us some input on the matter? imo ~ MM
DON961 said (Post #149)
Arab Monetary Fund launches a special index for the Iraqi market for securities
Iraq Stock Exchange
03 Sep 2019 02:02 PM
Direct: The Arab Monetary Fund revealed the inclusion of the Iraqi market for securities officially in the system of Arab financial markets database with the Fund, as of the beginning of September 2019.
The Arab Monetary Fund, in a statement, that the number of Arab financial markets joined the database of the Fund rose to 17 markets with the accession of the Iraqi market.
The Iraqi Stock Exchange currently includes 95 companies, including 28 banks and 5 insurance companies, 23 services, finance and investment companies, and two companies in the telecommunications sector, in addition to 21 companies in the industrial sector, 10 companies in the hotel and tourism sector, and 6 companies in the agriculture sector.
The total market value of the market at the end of 2018 was about 11.356 trillion Iraqi dinars equivalent to $ 9.1 billion, thus being ranked 13th among the Arab financial markets in the market value.
The Fund said that it has started to calculate a special index for the Iraqi market for securities, based on the data as at 31 July 2019 as a base period .
The sample of the index of the Fund for the Iraqi market for the securities of 43 companies, representing a market value of about 80 percent of the total market value as at the end of 2018 .
It is noteworthy that the Arab Monetary Fund calculates, in addition to indicators for the financial markets that join its database, a general composite index, which measures the performance of the Arab financial markets combined, including the Iraqi market for securities as of September 1, 2019 link
Samson: Iraq signs a memorandum of forgiveness of 75% of its debts with Arab funds
5th September, 2019
The Arab League signed on Thursday a memorandum of understanding with Iraq in implementation of the decision of the recent Arab summit in Tunisia;
The 104th session of the Economic and Social Council of the League of Arab States kicked off at the headquarters of the General Secretariat of the League of Arab States in the presence of a number of ministers, heads of Arab delegations and directors of joint Arab action organizations.
The memorandum was signed by the Arab League Secretariat General Assistant Secretary General for Financial and Administrative Affairs Ambassador Abdullah Sorour Al-Mutairi and Iraq Ambassador to Egypt Ahmed Al-Dulaimi, according to the Saudi Press Agency.
The memorandum of understanding includes clauses on how to exempt Iraq from paying its debts to Arab funds by 75 percent, and how to pay Iraqi arrears in the budget of the General Secretariat of the League, and a program for how and when to pay.
Al-Mutairi said that these arrears amount to about 21 million dollars, noting that Iraq has always been a race to commit to pay all financial contributions to the budget of the Arab League and Arab funds. LINK